The earlier you know, the better.

First things first: what’s the difference between CPF top-ups and transfers? Simple: top-ups involve cash, like topping up your EZ-Link card. Transfers involve moving funds from your Ordinary Account to a Special Account or Retirement Account (either your own or a loved one’s), like transferring money from your bank account to someone else’s.

So why should you bother with CPF top-ups and transfers? Can’t you just leave your CPF to grow on its own? You sure can, but top-ups and transfers allow you to enjoy even more of a good thing.

1

It’s a sure thing

Your CPF SA and RA earns interest rates of up to 5% and 6% p.a. respectively. Whether you choose to transfer or top up, your savings will be reaping better interest rates compared to sitting around in a regular bank account, with your capital and returns protected from external market factors. So it’s practically a risk-free investment. And the earlier you start making the transfers, the more you stand to gain from compound interest.

Compound interest/Top-up calculator

Every

I want to save

for

By putting in $XXX, your Special Account savings would have grown to $XXX at 4% interest p.a.

In a bank savings account, the same amount would have grown to $XXX at 0.24% interest p.a.

$100.00

6,000 + 600 = 6,600

12,000 + 2,600 = 14,600

18,000 + 6,400 = 24,400

24,000 + 12,300 = 36,300

$200.00

12,000 + 1,200 = 13,200

24,000 + 5,300 = 29,300

36,000 + 12,900 = 48,900

48,000 + 24,700 = 72,700

$300.00

18,000 + 1,800 = 19,800

36,000 + 8,000 = 44,000

54,000 + 19,400 = 73,400

72,000 + 37,100 = 109,100

$400.00

24,000 + 2,400 = 26,400

48,000 + 10,600 = 58,600

72,000 + 25,800 = 97,800

96,000 + 49,500 = 145,500

$500.00

30,000 + 3,000 = 33,000

60,000 + 13,300 = 73,300

90,000 + 32,300 = 122,300

120,000 + 61,900 = 181,900

$100.00

- + - = 6,036

- + - = 12,146

- + -= 18,329

- + - = 24,587

$200.00

- + - = 12,073

- + - = 24,292

+ - = 36,659

- + - = 49,175

$300.00

- + - = 18,110

- + - = 36,439

- + - = 54,989

- + - = 73,763

$400.00

- + - = 24,146

- + - = 48,585

- + - = 73,318

- + - = 98,350

$500.00

- + - = 30,183

- + - = 60,731

- + - = 91,648

- + - = 122,938

$1,000.00

5,000 + 600 = 5,600

10,000 + 2,400 = 12,400

15,000 + 5,700 = 20,700

20,000 + 10,800 = 30,800

$2,000.00

10,000 + 1,200 = 11,200

20,000 + 4,800 = 24,800

30,000 + 11,500 = 41,500

40,000 + 21,700 = 61,700

$3,000.00

15,000 + 1,800 = 16,800

30,000 + 7,300 = 37,300

45,000 + 17,200 = 62,200

60,000 + 32,600 = 92,600

$4,000.00

20,000 + 2,400 = 22,400

40,000 + 9,700 = 49,700

60,000 + 23,000 = 83,000

80,000 + 43,400 = 123,400

$5,000.00

25,000 + 3,000 = 28,000

50,000 + 12,200 = 62,200

75,000 + 28,700 = 103,700

100,000 + 54,300 = 154,300

$6,000.00

30,000 + 3,600 = 33,600

60,000 + 14,600 = 74,600

90,000 + 34,500 = 124,500

120,000 + 65,200 = 185,200

$7,000.00

35,000 + 4,300 = 39,300

70,000 + 17,100 = 87,100

105,000 + 40,300 = 145,300

140,000 + 76,000 = 216,000

$1,000.00

5,000 + 300 = 5,036

10,000 + 1,400 = 10,134

15,000 + 3,300 = 15,295

20,000 + 6,100 = 20,520

$2,000.00

10,000 + 700 = 10,072

20,000 + 2,900 = 20,269

30,000 + 6,600 = 30,591

40,000 + 12,200 = 41,040

$3,000.00

15,000 + 1,100 = 15,108

30,000 + 4,300 = 30,403

45,000 + 10,000 = 45,887

60,000 + 18,300 = 61,561

$4,000.00

20,000 + 1,500 = 20,144

40,000 + 5,800 = 40,538

60,000 + 13,300 = 61,182

80,000 + 24,500 = 82,081

$5,000.00

25,000 + 1,800 = 25,180

50,000 + 7,300 = 50,672

75,000 + 16,700 = 76,478

100,000 + 30,600 = 102,601

$6,000.00

30,000 + 2,200 = 30,216

60,000 + 8,700 = 60,807

90,000 + 20,000 = 91,774

120,000 + 36,700 = 123,122

$7,000.00

35,000 + 2,600 = 35,253

70,000 + 10,200 = 70,941

105,000 + 23,300 = 107,069

140,000 + 42,900 = 143,642

Terms and conditions

This tool is for illustrative purposes only and actual results may vary.

The estimations do not include the 1% p.a. extra interest that you will earn on the first $60,000 of your CPF savings.

Recipients below the age of 55 can receive cash top-ups and CPF transfers to their Special Account up to the current Full Retirement Sum.

The bank savings account is assumed to earn 0.24% p.a. interest which is based on a weightage of 80% of the 12-month fixed deposit rates and 20% of the savings rates of the major local banks. Details can be found in news releases on CPF interest rates.

2

It’s another way of saying “I love you”

If you’re a working adult, chances are you give your parents or your spouse an allowance of some sort. Ever considered transferring some of your OA to your loved one's Special or Retirement Account as a form of allowance? This allows them to earn up to 5% or 6% interest p.a. on their retirement savings. Plus, they get to enjoy a bigger monthly lifetime payout from CPF LIFE after retirement.

Transfers calculator

I wish to transfer

to a loved one who is

When my loved one is 55 years old, my transfer would have grown to $XX in their special account at 4% p.a.

When my loved one is 65 years old, they will enjoy an additional $XX in their monthly CPF LIFE payout

2,6002728

5,3005559

7,9008388

10,600111118

13,300140149

15,900167178

18,600195208

21,300222237

23,900247263

26,600272289

2,1002223

4,3004548

6,5006872

8,7009197

10,900114122

13,100138147

15,300161171

17,500184196

19,700207220

21,900228243

1,8001820

3,6003740

5,4005660

7,2007580

9,00094100

10,800113121

12,600132141

14,400151161

16,200170181

18,000189201

1,4001415

2,9003032

4,4004649

5,9006266

7,4007783

8,8009298

10,300108115

11,800124132

13,300140149

14,800155166

1,2001213

2,4002526

3,6003740

4,8005053

6,0006367

7,2007580

8,5008995

9,700102108

10,900114122

12,100127135

1,0001010

2,0002122

3,0003133

4,0004244

5,0005255

6,0006367

7,0007378

8,0008489

9,00094100

10,000105112

Terms and conditions

Payouts are based on CPF LIFE Standard Plan for a 55-year-old in 2018.

Payout is based on interest rate of 4% p.a.

Payout is assumed to start from the payout eligibility age of 65 which applies for those born in 1954 and after. You can see the full payout eligibility ages here.

CPF LIFE monthly payout may be adjusted every year to take into account factors such as CPF interest rate and mortality experience.

There are limits to the savings that can be transferred and received. Please see the Terms & Conditions at the CPF Transfers page for details.

This tool is for illustrative purposes only and actual results may vary.

3

It’s one less thing to worry about

On the subject of looking after parents, transferring your OA savings to your loved ones’ SA or RA means they’ll have even more retirement income for as long as they live under CPF LIFE. You will need to have at least the Basic or Full Retirement Sum in order to make transfers to your loved ones. Of course, this could apply to your own retirement as well if you transferred saving from OA to your SA or RA. Take a look at how much savings is needed at 55 for different desired CPF LIFE payouts.

CPF LIFE payout calculator

I am malefemale

If I want monthly payout,

I need $– in my Retirement Account at 55.

$400

$38,400$41,500

$500

$50,100$54,400

$600

$62,800$68,400

$700

$75,900$82,500

$800

$89,000$96,600

$900

$102,200$110,900

$1,000

$115,400$125,100

$1,100

$128,700$139,400

$1,200

$142,000$153,700

$1,300

$155,200$168,000

$1,400

$168,500$182,300

$1,500

$181,800$196,600

$1,600

$195,100$210,900

$1,700

$208,400$225,100

$1,800

$221,700$239,500

$1,900

$234,900$253,800

$2,000

$248,200

$10,000

110105

$20,000

220210

$30,000

320300

$40,000

410385

$50,000

495465

$60,000

575540

$70,000

655610

$80,000

730680

$90,000

805750

$100,000

880820

$110,000

955890

$120,000

1,030960

$130,000

1,1101,030

$140,000

1,1851,100

$150,000

1,2601,170

$160,000

1,3351,240

$170,000

1,4101,310

$180,000

1,4851,380

$190,000

1,5601,450

$200,000

1,6351,520

$210,000

1,7101,590

$220,000

1,7851,660

$230,000

1,8601,730

$240,000

1,9351,800

$250,000

2,0101,870

$256,500

2,0601,910

Terms and conditions

Payouts are based on CPF LIFE Standard Plan for a 55-year-old in 2018.

Payout is based on interest rate of 4% p.a.

Payout is assumed to start from the payout eligibility age of 65 which applies for those born in 1954 and after. You can see the full payout eligibility ages here.

CPF LIFE monthly payout may be adjusted every year to take into account factors such as CPF interest rate and mortality experience.

This tool is for illustrative purposes only and actual results may vary.

4

It’s a completelylegal way to pay less tax

Does getting up to $14,000 in tax relief every year sound good to you? Yup, it’s good, and it’s true. Topping up your own SA or RA gets you dollar-for-dollar tax relief up to $7,000 each year. Topping up for your loved ones gets you up to a further $7,000. So top up, and be rewarded dollar for dollar in tax relief*.